The Gunners are believed to have triggered a £20m release clause in Vardy's contract.
It has been reported that the 29-year-old forward, who scored 24 Premier League goals in Leicester's remarkable title-winning season, is considering a switch to the Emirates just four weeks after lifting the coveted trophy.
Despite Vardy still being a Leicester player, The Mirror reports that Okazaki is confident that his teammate will impress in North London.
"I think he has the potential to adapt to any style of soccer," the striker is reported to have told the Japan Times. "At Leicester, we just happened to play the way we did and he fit fine.
"But even in a team that plays possession soccer, he has that sudden burst of speed and there are a lot of players at Arsenal who will notice that right away and play to that strength of his, like the way they did with [Danny] Welbeck.
"He's not someone who only tries to get behind the defense, though. He picks his spots. Someone like me, I have to really get set up and then go but he can quicken instantly, go from zero to full speed. He can adjust to any style."
Vardy is now in France with the rest of the England squad for Euro 2016.